Is a refi a good idea right now?

Refinance to lower rates are probably not going to meet that objective unless you have a high rate and did not take advantage of the low rates the last few years. Other objectives for cash out to consolidate high interest credit card debts or remodeling, etc then one might choose to sacrifice their current rate if that objective is more beneficial or important.

John - what is your presewnt rate ? rates have continued to steadily climb for the past several months and its not likely to drop anytime soon ..unless you have a special need to refinance - you will likely need to continue to wait

History has proven that every time the Fed plays with the Fed Funds rate to tamper inflation, there is usually a big drop in rates about 2-years later. Most people will NOT be refinancing right now simply for a better rate, but rate alone isn't the only reason. For example, I am doing one right now where the guys rate is basically doubling. But he is also taking out $200,000 of equity to remodel the house. He will likely be a refinance customer again in two-years. I Lend in MN, WI, IA, ND, SD. Cambria Mortgage, NMLS 274132 - Minneapolis-Mortgage.net